Samsung Electronics Co.'s market share in the global foundry industry is expected to increase in the current quarter from the previous three months, a report showed Thursday, with growth in the 5G smartphone market. Samsung's share of the foundry business was estimated at 18.8 percent in the April-June period, 2.9 percentage points higher than three months earlier, according to a report from industry tracker TrendForce. The South Korean tech giant's revenue from the foundry business was expec

Hyundai Oilbank said Thursday it has developed a new system that can detect oil leaks from underground pipes at gas stations to help prevent environment pollution. According to the South Korean refiner, Hyundai Oil Leakage Monitoring Expert System, or Holmes, can detect and locate oil leaks from old pipes buried underneath gas stations, preventing possible soil contamination that can cost millions of dollars for restoration. “Leaks from oil tanks can be easily checked by gauges, but l

It's not just funny or tongue-in-cheek wordplay. Rather, it is a highly calibrated marketing strategy ironed out by South Korean foodmakers here to mainly target the important clan of young customers. Brand collaboration is not something new in the segment, but the food industry is currently expanding the scope of partnership with other sectors -- sports, fashion and cosmetics, you name it. CJ Cheiljedang Corp., South Korea's largest food company, has teamed up with the Hanwha Eagles, a profe

SK Telecom said Thursday it has signed deals with major tech firms to develop security products for self-driving vehicles, internet of things-devices and smartphones using its new quantum-powered security chipset. Names of the partners were not disclosed. Since 2018, SKT and Switzerland-based ID Quantique have been developing the quantum random number generator (QRNG) chipset for Samsung Electronics’ Galaxy A Quantum, together with fabless Korean company Btree, which specializes in des

Securing Korea’s own drug supply chain needs state-driven impetus: KPBMA chairman

Kia Motors Corp., South Korea's second-biggest carmaker by sales, halted its two domestic plants Thursday, as two workers at the plants near the capital were confirmed to have contracted the new coronavirus. The suspension came after the two worker at the plants in Gwangmyeong, just southwest of Seoul, tested positive for COVID-19. South Korean health officials tested workers who came into contact with the virus patients. The test results are due as early as Friday morning. Kia Motors and he

Local automakers including Hyundai Motor Group and GM Korea have joined hands with the government for guarantee funds to support auto parts makers hit by the COVID-19 pandemic, officials said Thursday. An agreement to the effect was signed in Seoul by the automakers and the Ministry of Transport, Infrastructure and Energy and the Ministry of SMEs and Startups.  Transport Minister Sung Yoon-mo said that the fund would “work as a liquidity supporting net for midsized companies with l

Celltrion Healthcare said Thursday it will begin clinical trials of its anti-inflammatory drug Remsima on COVID-19 patients in the UK this month. “As Remsima is an approved drug, the clinical trials will directly begin on infected COVID-19 patients,” a Celltrion Healthcare official told The Korea Herald. Four UK health care institutions -- University Hospital of Birmingham, NIHR Birmingham Biomedical Research Centre, Oxford NIHR BRC and UCLH/UCL Biomedical Research Centre in Lond

The number of people playing PC and console-based games jumped by nearly 50 percent globally this year as the new coronavirus pandemic has confined more people to their homes, an industry report showed Thursday. Daily active users of PC and console games spiked 46 percent on-year during the January-May period, according to the report by game software developer Unity Technologies. The correspondent number for mobile gaming was a 17 percent increase. Before the COVID-19 outbreak hit, there was

Debt-laden Doosan Group will raise 1 trillion won ($800 million) this year by selling new shares and its assets to ease its cash shortage crisis, the group's chairman said Thursday. Park Jeong Won, chairman of the group, said the group will push for sales of its assets in line with a plan to reorganize its business line and Doosan Heavy's financial structure. In return for 3.6 trillion won in financial support from state-run banks, Doosan Heavy, the country's leading power equipment maker,

  South Korea's three major telecommunications firms are to enter heated competition to expand their presence in the local pay TV market, industry insiders said Thursday, as more cable TV operators are up for sale. According to sources, the owner of Central Multi Broadcasting (CMB) Co., the nation's fourth largest cable TV firm, recently decided to sell the company. The country's No. 3 cable TV operator, D'Live Co., and No. 5 player, Hyundai HCN Co., have also been put up for sale. CMB

The combined revenue from overseas markets of South Korea’s top 100 companies dropped by 10.4 percent due to the coronavirus pandemic, data from the Federation of Korean Industries showed. The data was based on each firm’s report of their consolidated revenue as of the first quarter this year. (khnews@heraldcorp.com)

Korean Air Lines Co., South Korea's largest airline, said Thursday it will extend unpaid leave for its flight attendants in the latest move to cope with a sharp decline in air travel demand amid the spread of the coronavirus. Korean Air said all flight attendants who have worked for the flag carrier for at least two years can take the unpaid leave for a minimum period of six months and up to one year, beginning on July 1. The latest move comes amid no clear sign of business normalization due

South Korea's auto exports more than halved in May from a year earlier due to falling demand in the face of the new coronavirus pandemic that as infected more than 7 million people, data showed Thursday. Local carmakers shipped 95,400 units of cars overseas last month, down 57.6 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. In terms of value, auto exports also fell 54.1 percent over the period to reach $1.81 billion. In the first

LG Uplus Corp., South Korea's No. 3 mobile carrier, said Thursday it will supply 5G virtual reality (VR) content to Taiwan's largest telecommunication firm. LG Uplus' 5G VR content will be also available on Chunghwa Telecom Co. when Taiwan commercializes a 5G network next month, according to the company. LG Uplus will first provide 180 K-pop VR content products and introduce its multi-view technology. This is the fourth time that LG Uplus has exported its 5G content to a foreign company. LG U